Report Update: May 1, 2024

Kuwait - Flat-Rolled Products Of Iron Or Steel (Not Further Worked Than Hot-Rolled) - Market Analysis, Forecast, Size, Trends and Insights

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Hot-Rolled Steel Products Price in Kuwait - 2021

Hot-Rolled Steel Products Price in Kuwait (CIF) - 2021

In December 2021, the average hot-rolled steel products import price amounted to $1,074 per ton, almost unchanged from the previous month. Overall, import price indicated a perceptible increase from January 2021 to December 2021: its price increased at an average monthly rate of +4.9% over the last eleven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2021 figures, hot-rolled steel products import price decreased by -2.7% against September 2021 indices. The most prominent rate of growth was recorded in March 2021 when the average import price increased by 41% against the previous month. The import price peaked at $1,104 per ton in September 2021; afterwards, it flattened through to December 2021.

Average prices varied noticeably amongst the major supplying countries. In December 2021, the countries with the highest prices were India ($1,230 per ton) and Saudi Arabia ($1,127 per ton), while the price for Ukraine ($1,000 per ton) and China ($1,080 per ton) were amongst the lowest.

From January 2021 to December 2021, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Hot-Rolled Steel Products Price in Kuwait (FOB) - 2021

In December 2021, the average hot-rolled steel products export price amounted to $560 per ton, surging by 61% against the previous month. Overall, the export price recorded a temperate increase. The most prominent rate of growth was recorded in February 2021 when the average export price increased by 168% m-o-m. Over the period under review, the average export prices attained the maximum at $1,072 per ton in October 2021; however, from November 2021 to December 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In December 2021, the country with the highest price was Saudi Arabia ($820 per ton), while the average price for exports to Pakistan ($168 per ton) was amongst the lowest.

From January 2021 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Hot-Rolled Steel Products Imports in Kuwait

In 2022, supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 8.8% to 159K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a abrupt decrease.

In value terms, hot-rolled steel products imports reduced to $115M in 2022. Overall, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 11% against the previous year.

Import of Hot-Rolled Steel Products in Kuwait (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	49.6	36.7	30.2	32.3	-13.3%
China	54.2	18.9	32.8	26.6	-21.1%
Saudi Arabia	17.9	10.4	7.9	16.0	-3.7%
India	9.2	5.3	14.7	10.1	3.2%
South Africa	8.4	10.0	9.2	9.6	4.6%
Oman	6.4	4.3	1.5	3.0	-22.3%
Indonesia	1.3	1.2	0.9	2.4	22.7%
Ukraine	6.9	5.5	9.1	2.3	-30.7%
Others	27.9	16.7	15.0	12.8	-22.9%
Total	182	109	121	115	-14.2%

Top Suppliers of Hot-Rolled Steel Products to Kuwait in 2022:

South Korea (51.2K tons)
China (29.5K tons)
Saudi Arabia (27.3K tons)
South Africa (13.7K tons)
India (10.9K tons)
Oman (4.0K tons)
Indonesia (3.8K tons)
Ukraine (2.9K tons)

Hot-Rolled Steel Products Exports in Kuwait

After three years of growth, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by -32.6% to 4.1K tons in 2022. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 204% against the previous year.

In value terms, hot-rolled steel products exports shrank significantly to $3M in 2022. Over the period under review, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 180%.

Export of Hot-Rolled Steel Products in Kuwait (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Saudi Arabia	136	727	2,102	1,579	126.4%
United Arab Emirates	548	395	444	861	16.3%
Pakistan	110	496	121	331	44.4%
Qatar	107	1,262	500	194	21.9%
India	42.7	116	373	1.0	-71.4%
Others	274	417	475	33.7	-50.3%
Total	1,217	3,413	4,015	3,001	35.1%

Top Export Markets for Hot-Rolled Steel Products from Kuwait in 2022:

Saudi Arabia (1597.5 tons)
United Arab Emirates (1138.4 tons)
Pakistan (924.0 tons)
Qatar (363.6 tons)
India (1.5 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the hot-rolled steel products market in Kuwait. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24103110 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, simply hot-rolled, not clad, plated or coated, in coils
Prodcom 24103130 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, not in coils, simply hot-rolled, not clad, plated or coated, w ith patterns in relief directly due to the rolling process and products of a thickness < 4,75 mm, without patterns in relief
Prodcom 24103150 - Flat-rolled products, of iron or non-alloy steel, of a width . .600 mm (excluding
Prodcom 24103210 - Flat-rolled products of iron or non-alloy steel, simply hot-rolled on four faces or in a closed box pass, not clad, plated or coated, of a width of > .150 mm but < .600 mm and a thickness of . 4 mm, not in coils, without patterns in relief, commonly
Prodcom 24103230 - Flat-rolled products of iron or non-alloy steel, of a width < .600 mm, simply hot-rolled, not clad, plated or coated (excluding
Prodcom 24103330 - Plates and sheets produced by cutting from hot-rolled wide strip of a width of .600 mm or more, of stainless steel
Prodcom 24103340 - Plates and sheets produced on a reversing mill (quarto) of a width of .600 mm or more and wide flats, of stainless steel
Prodcom 241033Z0 - Hot-rolled flat products in coil of a width . .600 mm, of stainless steel
Prodcom 241034Z0 - Hot-rolled flat products in coil of a width < .600 mm, of stainless steel
Prodcom 24103510 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, in coils (excluding products of high-speed or siliconelectrical steel)
Prodcom 24103520 - Flat-rolled products of high-speed steel, of a width . .600 mm, h ot-rolled or cold-rolled
Prodcom 24103530 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, not in coils (excluding organic coated products, p roducts of a thickness < 4,75 mm and products of high-
Prodcom 24103540 - Flat-rolled products of alloy steel other than stainless, of a width . .600 mm, not further worked than hot-rolled, not in coils, of a thickness of < 4,75 mm (excluding products of tool steel, high-speed steel or silicon-electrical steel)
Prodcom 24103600 - Flat-rolled products of alloy steel other than stainless, of a width of < .600 mm, not further worked than hot-rolled (excluding products of high-speed steel or silicon-electrical steel)

Country coverage:

Kuwait

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Kuwait
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023